| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 67th | Good |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17830 Merridy St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1985 |
| Units | 40 |
| Transaction Date | 1997-03-14 |
| Transaction Price | $1,000,000 |
| Buyer | PCS DEVELOPMENT INC |
| Seller | REGAL INVESTOR REAL ESTATE ASSOC L P |
17830 Merridy St, Northridge CA Multifamily Investment
Neighborhood multifamily fundamentals point to steady demand and pricing power, with neighborhood occupancy reported near 95% according to WDSuite’s CRE market data.
Northridge sits within the Los Angeles-Long Beach-Glendale metro and rates A- overall, ranking 361 out of 1,441 neighborhoods — competitive among Los Angeles-Long Beach-Glendale neighborhoods. The area’s renter concentration is meaningful at roughly half of housing units renter-occupied at the neighborhood level, supporting depth for a 40-unit asset. Across a 3-mile radius, households have edged higher over the past five years while average household size has trended lower, a combination that can sustain a larger tenant base even with modest population softness.
Amenity access is a local strength: restaurants and parks score in the top quartile nationally, and grocery access is above average, aligning with day-to-day renter convenience. Childcare density also tests well. By contrast, cafes and pharmacies are thinner inside the neighborhood boundary; investors should underwrite to the broader trade area for lifestyle services. Average school ratings sit slightly above national midline, offering family-oriented appeal without commanding ultra-premium pricing.
Pricing context favors rental demand. Median home values in the neighborhood are elevated versus national norms (high national percentile and a value-to-income ratio in the upper percentiles), which typically reinforces long-term reliance on multifamily housing. Neighborhood median contract rents register in a high national percentile while rent-to-income ratios remain comparatively manageable, indicating room for careful revenue optimization without outsized affordability pressure relative to similar Los Angeles submarkets, based on CRE market data from WDSuite.
Occupancy for the neighborhood is strong by national comparison and has been resilient, supporting leasing stability. Within a 3-mile radius, forward-looking data points to a continued increase in household count and a smaller average household size through the next five years, which can translate into more renters entering the market and support for sustained occupancy over a medium-term hold.
Safety indicators compare favorably at the national level on violent offenses, with the neighborhood landing in the top quartile nationwide. Property-related offenses benchmark closer to the national mid-to-upper range. Recent-year trends show notable declines in both violent and property offense estimates, which, if sustained, can support tenant retention and leasing stability. These signals are neighborhood-level and should be paired with property- and block-level diligence typical for Los Angeles-Long Beach-Glendale submarkets.
The employment base nearby blends corporate offices and media, supporting commuter convenience and a diversified renter pool. Key nodes within typical renter commute ranges include Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Radio Disney, and Disney.
- Thermo Fisher Scientific — life sciences (6.3 miles)
- Farmers Insurance Exchange — insurance (6.5 miles) — HQ
- Charter Communications — telecommunications (10.8 miles)
- Radio Disney — media (12.4 miles)
- Disney — entertainment (13.1 miles) — HQ
This 40-unit Northridge asset is positioned in a neighborhood with strong national standing on core livability factors and a renter base deep enough to support occupancy stability. Elevated ownership costs in the immediate area, coupled with high-percentile neighborhood rents and a comparatively moderate rent-to-income profile, suggest potential for disciplined rent growth while maintaining tenant retention. According to CRE market data from WDSuite, neighborhood occupancy sits in the mid-90% range and restaurant/park access tests well nationally — a combination that typically supports demand consistency.
Demographic signals within a 3-mile radius show households increasing and average household size declining over the outlook period, which can expand the renter pool even as population growth is flat to slightly negative. Investors should account for uneven amenity distribution (limited cafes/pharmacies inside the neighborhood boundary) and monitor broader metro cycles, but the balance of fundamentals points to durable leasing and revenue management opportunities over a medium-term hold.
- Strong neighborhood occupancy and renter concentration support stable leasing
- High ownership costs reinforce rental demand and pricing power
- Household growth and smaller household size within 3 miles expand the tenant base
- Amenity strengths (parks, restaurants) align with renter convenience
- Risks: uneven amenity mix and broader LA cycle sensitivity warrant conservative underwriting